Section 5-1.4-2-1 - Local public improvement bond bank; establishment; nature; purpose(a) In a city there is established a local public improvement bond bank, to be known as "The ____________ (name of city) __________ Local Public Improvement Bond Bank", for: (1) the public purposes set out in this article; and(2) in the case of a city described in IC 5-1.4-1-5(3), the additional public purposes of: (A) developing infrastructure;(B) promoting education and tourism; and(C) assisting economic development.(b) The bank is a body corporate and politic separate from the city in its corporate capacity.(c) The purpose of the bank is to buy and sell securities of qualified entities.As added by P.L. 42-1985, SEC.1. Amended by P.L. 29-1986, SEC.3; P.L. 11-1987, SEC.9; P.L. 255-1997 (ss), SEC.3.